Power Point: Amazon introduces Kindle 2

“It isn’t as though the two things—books and the Kindle—are in conflict. It’s like peanut butter and chocolate. When you put them together, you get a whole new taste treat.”

— Best-selling author Stephen King at a press event announcing the Amazon Kindle 2 in New York City on Monday. King’s comments underscore what Amazon.com CEO Jeff Bezos has said since the Kindle, an electronic book reader, was introduced in November 2007–and he echoed today: “Kindle is designed to disappear so that you can enter the author’s world.” It was the natural lead-up for King to read–on his Kindle, of course–from a story he wrote for exclusive distribution on the Kindle 2.

The most notable upgrades to the Kindle include: increased battery life, more memory, better navigation, sleeker design, improved display and faster page-turning. The device is also capable of reading aloud to its user. One thing that didn’t change: the price. At $359, the Kindle remains above the threshold for many would-be buyers. For more background on the Kindle, read my Tech Daily column posted at Fortune.com on Friday. Amazon stock was up slightly on the news, closing at $66.71 a share. –Jessica Shambora